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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows used in operating activities:    
Net loss $ (101,915) $ (36,445)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 10,099 1,243
Depreciation expense 140 20
Net amortization of premiums and discounts on investments (107)  
Change in fair value of convertible notes   (5,228)
Changes in operating assets and liabilities:    
Interest receivable (13) (2)
Prepaid expenses and other current assets (4,053) (665)
Operating lease right-of-use assets 790  
Other assets (456) 125
Accounts payable 3,755 (872)
Accrued expenses and deferred rent 4,784 5,678
Operating lease liabilities (120)  
Net cash used in operating activities (87,096) (25,690)
Cash flows used in investing activities:    
Purchases of property and equipment (1,447) (14)
Purchases of investments (154,313)  
Proceeds from maturities of short-term investments 60,911  
Net cash used in investing activities (94,849) (14)
Cash flows provided by financing activities:    
Forgiveness of PPP loan   (263)
Proceeds from initial public offering 200,897  
Initial public offering costs paid (1,518) (80)
Proceeds from issuance of convertible notes—related parties   14,272
Proceeds from issuance of convertible notes   11,887
Proceeds from exercise of stock options 248 34
Proceeds received in advance of issuance of Series C preferred stock   2,070
Net cash provided by financing activities 199,627 27,920
Effect of exchange rate changes on cash, cash equivalents and restricted cash (203) 2
Net increase in cash, cash equivalents and restricted cash 17,479 2,218
Cash, cash equivalents and restricted cash, beginning of period 50,380 13,066
Cash, cash equivalents and restricted cash, end of period 67,859 15,284
Supplemental disclosure of cash flow information:    
Unrealized loss on short-term investments 195  
Purchases of property and equipment included in accounts payable 76 29
Right-of-use assets and liabilities upon ASC842 adoption 2,201  
Right-of-use assets obtained in exchange for lease liabilities 4,958  
Movement of deferred offering costs to equity 4,518  
Initial public offering costs included in accounts payable and accrued expenses 526 $ 1,163
Conversion of preferred stock to common stock upon initial public offering $ 239,351